To amend the Internal Revenue Code of 1986 to provide an advance refundable credit to offset certain flood insurance premiums, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to provide an advance refundable credit to offset certain flood insurance premiums, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Environment.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Flood Insurance Affordability Tax Credit Act.
- Section id12644c6183254912b0885c7ebfb1ccbd: 2. Refundable credit for certain flood insurance coverage Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by...
- Section id20f5d47aaba4461cb27c53b95fcf2d5c: 36C. Refundable credit for certain flood insurance coverage There shall be allowed as a credit against the tax imposed by this subtitle for any taxable year an...
- Section id2c6bc3b3f16c48c0bdc02aa550dde016: 3. Advance payments Chapter 77 of the Internal Revenue Code of 1986 is amended by inserting after section 7527A the following new section: The Secretary shall...
- Section id3986f29941aa486580a7c616100d608c: 7527B. Advance payment of credit for certain flood insurance coverage The Secretary shall establish a program for making payments of applicable flood insurance...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to provide an advance refundable credit to offset certain flood insurance premiums, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Environment
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to provide an advance refundable credit to offset certain flood insurance premiums, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Cassidy (for himself and Mr. Booker) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → The Secretary identified in the operative section
- "administrator_of_fema"
- → Administrator of the Federal Emergency Management Agency
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology